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                                                                Exhibit 10(ll)


                                 EMPLOYMENT AGREEMENT
                                 --------------------


     THIS AGREEMENT is effective as of December 18, 2000, the effective date of
the Plan of Reorganization of Kaiser Group International, Inc. ("Effective
Date"), by and among Kaiser Group Holdings, Inc. and Kaiser Group International,
Inc., each a Delaware corporation (collectively, the "Corporation"), and John T.
Grigsby, Jr., presently a resident of Florida (the "Executive").

     WHEREAS, as of the Effective Date, the Executive will become President and
Chief Executive Officer of Kaiser Group Holdings, Inc.;

     WHEREAS, the Executive will also be a director and officer of Kaiser Group
International, Inc. and will be carried on the payroll of that entity; and

     WHEREAS, the Corporation and the Executive wish to document the terms of
their employment relationship;

     NOW, THEREFORE, in consideration of the premises and the mutual agreements
made herein, and intending to be legally bound hereby, the Corporation and the
Executive agree as follows:

     1.  Employment; Duties.
         ------------------

          (a) Employment; Employment Period.  The Corporation shall employ the
              -----------------------------
Executive to serve as President and Chief Executive Officer of Kaiser Group
Holdings, Inc. for an "evergreen" period of twelve months, meaning that the
remaining term of this Agreement shall at all times be twelve months, provided
                                                                      --------
that either Kaiser Group Holdings, Inc. or the Executive may terminate this
Agreement in accordance with Section 6.  The term of this Agreement, as in
effect from time to time, and subject to termination as provided in Section 6,
is referred to herein as the "Employment Period."

          (b) Reporting.  The Executive shall report to the Board of Directors
              ---------
of Kaiser Group Holdings, Inc.

          (c) Authorities and Responsibilities.  The Executive shall have
              --------------------------------
authorities and responsibilities normally attendant to the position he holds.

     2.  Compensation and Fringe Benefits.
         --------------------------------

          (a) Base Compensation.  The Corporation shall pay the Executive an
              -----------------
initial base salary at the rate of $400,000 per annum in substantially equal
regular installments (but no less frequently than monthly) in accordance with
the Corporation's regular practice for compensating executive personnel.  The
Corporation and the Executive recognize and agree that the level of effort
required on the part of the Executive will likely be reduced with the passage of
time during the course of calendar year 2001.  Accordingly, the Executive's base
compensation shall be adjusted by
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mutual agreement of the Executive and the Board of Directors of Kaiser Group
Holdings, Inc. from time to time during the course of calendar year 2001.

          (b) Incentive Compensation.  The Executive shall be entitled to
              ----------------------
participate in such management incentive plans as may be adopted from time to
time by the Board of Directors of Kaiser Group Holdings, Inc.

          (c) Fringe Benefits.  The Executive shall be entitled to such fringe
              ---------------
benefits as are generally made available by the Corporation to executive
personnel and those customarily made available to individuals holding the
positions held by the Executive.  The Executive also will be reimbursed for
reasonable expenses incurred in connection with travel and entertainment related
to the Corporation's business and affairs and will be paid by the Corporation in
a manner consistent with past practice and as amended by any subsequent changes
of corporate policy.

          (d) Commuting and Living Expenses.  During the initial phase of his
              -----------------------------
employment by the Corporation, the Executive shall commute from his home to the
Corporation's offices in Fairfax, Virginia, and will incur commuting and living
expenses in connection with such travel.  The Corporation shall reimburse the
Executive for such expenses upon submission of appropriate supporting
documentation.  In addition, to the extent such reimbursements are taxable to
the Executive for Federal, state or local tax purposes, such reimbursements to
the Executive shall be "grossed-up."

          (e) Severance.  The Executive shall not be entitled to any severance
              ---------
upon conclusion of the Employment Period.

     3.  Trade Secrets.  Except as is required in his employment hereunder, the
         -------------
Executive shall not use or disclose any of the Corporation's trade secrets or
other confidential information.  The term "trade secrets or other confidential
information" includes, by way of example, matters of a technical nature, such as
scientific, trade and engineering secrets, "know-how," formulae, secret
processes or machines, inventions, computer programs (including documentation of
such programs) and research projects, and matters of a business nature, such as
proprietary information about costs, profits, markets, sales, lists of
customers, and other information of a similar nature to the extent not available
to the public, and plans for future development.  After termination of this
Agreement, the Executive shall not use or disclose trade secrets or other
confidential information unless such information becomes a part of the public
domain other than through a breach of this Agreement or is disclosed to the
Executive by a third party who is entitled to receive and disclose such
information. The terms "trade secrets" and "confidential information" exclude
(a) information known by the Executive prior to the Executive's employment by
the Corporation or any of its affiliates; (b) information which is publicly
available or which is generally known in the industry through no breach of duty
of confidentiality by the Executive; and (c) information which the Executive
receives from a third party without any breach of duty of confidentiality by
such third party.

     4.  Return of Documents and Property.  (a) Upon the effective date of
         --------------------------------
notice of the Executive's or the Corporation's election to terminate this
Agreement, or (b) at any time upon the request of the Corporation, the Executive
(or his heirs or personal representative) shall deliver to the


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Corporation (i) all documents and materials containing trade secrets or other
confidential information relating to the Corporation's business and affairs, and
(ii) all documents, materials and other property belonging to the Corporation,
which in either case are in the possession or under the control of the Executive
(or his heirs or personal representative).

     5.  Discoveries and Works.  All discoveries and works made or conceived by
         ---------------------
the Executive during his employment by the Corporation, jointly or with others,
that relate to the Corporation's activities shall be owned by the Corporation.
The term "discoveries and works" includes, by way of example, inventions,
computer programs (including documentation of such programs), technical
improvements, processes, drawings and works of authorship.  The Executive shall
(a) promptly notify, make full disclosure to, and execute and deliver any
documents requested by, the Corporation to evidence or better assure title to
such discoveries and works in the Corporation, (b) provide reasonable
assistance, at no cost to the Executive, to the Corporation in obtaining or
maintaining for itself at its own expense United States and foreign patents,
copyrights, trade secret protection or other protection of any and all such
discoveries and works, and (c) promptly execute, whether during his employment
by the Corporation or thereafter, all applications or other endorsements
necessary or appropriate to maintain patents and other rights for the
Corporation and to protect its title thereto.  Any discoveries and works which,
within six months after the termination of the Executive's employment by the
Corporation, are made, disclosed, reduced to a tangible or written form or
description, or are reduced to practice by the Executive and which directly
relate to the Corporation's activities at the time of such termination shall, as
between the Executive and the Corporation, be presumed to have been made during
the Executive's employment by the Corporation.  Set forth on Schedule 5 attached
hereto is a list of inventions, patented or unpatented, including a brief
description thereof, which are owned by the Executive, which the Executive
conceived or made prior to his employment by the Corporation and which are
excluded from this Agreement.

     6.  Termination.
         -----------

          (a) Upon 60 days' prior written notice the Corporation may terminate
the Executive's employment, with or without "cause," as defined in Section 6(f)
below.  Upon 60 days' prior written notice the Executive may terminate his
employment, with or without "good reason," as defined in Section 6(e) below.
Upon any termination of the Executive's employment for any reason, the
Corporation shall:

               (i)  pay to the Executive any unpaid salary through the date of
                    termination; and

               (ii) provide to or for the benefit of the Executive the benefits,
                    if any, otherwise expressly provided under this Section.

Any payments under this Section 6 that are to be made in connection with the
termination of Executive's employment will be paid in cash (with deduction of
such amount as may be required to be withheld under applicable law and
regulations) within ten business days of Executive's termination of employment.
All other compensation and employment benefit arrangements


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<PAGE>

provided for in this Agreement shall cease upon such termination of employment
except to the extent required by law or otherwise expressly provided by such
arrangement.

          (b) In the event the Corporation terminates the Executive's employment
without "cause" or the Executive terminates his employment for "good reason,"
then, in addition to the benefits provided for under Sections 6(a)(i) and
6(a)(ii), the Corporation shall pay to the Executive a severance payment equal
to three months of the Executive's base compensation then in effect.

          (c) In the event the Corporation terminates the Executive's employment
for "cause," then the Executive shall not be entitled to any additional benefits
other than those provided for under Section 6(a)(i) and 6(a)(ii).

          (d) In the event the Executive terminates his employment without "good
reason," then the Executive shall not be entitled to any additional benefits
other than those provided for under Section 6(a)(i) and 6(a)(ii).

          (e) For purposes of this Agreement, the Executive shall be considered
to have "good reason" to terminate his employment if without his express written
consent (i) the responsibilities of the Executive are substantially reduced
(except in connection with the termination of his employment voluntarily by the
Executive or by the Corporation for "cause") or (ii) the Executive's base salary
is reduced other than as contemplated by Section 2(a).

          (f) For purposes of this Agreement, the Corporation shall have "cause"
to terminate the Executive's employment hereunder upon (i) the continued,
willful and deliberate failure of the Executive to perform his duties, in a
manner substantially consistent with the manner prescribed by the Board of
Directors of Kaiser Group Holdings, Inc. (other than any such failure resulting
from his incapacity due to physical or mental illness), (ii) the engaging by the
Executive in misconduct materially and demonstrably injurious to the
Corporation, or (iii) the conviction of the Executive of commission of a felony,
whether or not such felony was committed in connection with the Corporation's
business.

     7.  Enforcement.  The Executive agrees that the Corporation's remedies at
         -----------
law for any breach or threat of breach by him of the provisions of Sections 3, 4
and 5 hereof will be inadequate, and that the Corporation shall be entitled to
an injunction or injunctions to prevent breaches of the provisions of Sections
3, 4 and 5 hereof and to enforce specifically the terms and provisions thereof,
in addition to any other remedy to which the Corporation may be entitled at law
or equity.  The Executive shall be entitled to reimbursement by the Corporation
for any reasonable costs or attorneys fees incurred in collecting payments due
to the Executive pursuant to this Agreement.

     8.  Severability.  Should any provision of this Agreement be determined to
         ------------
be unenforceable or prohibited by any applicable law, such provision shall be
ineffective to the extent, and only to the extent, of such unenforceability or
prohibition without invalidating the balance of such provision or any other
provision of this Agreement, and any such unenforceability or prohibition in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

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     9.  Assignment.  The Executive's rights and obligations under this
         ----------
Agreement shall not be assignable by the Executive.  The Corporation's rights
and obligations under this Agreement shall not be assignable by the Corporation
without the Executive's prior written consent.  In the event of any such
assignment by the Corporation, all rights of the Corporation hereunder shall
inure to the benefit of the assignee.

     10.  Notices.  Any notice required or permitted under this Agreement shall
          -------
be deemed to have been effectively made or given if in writing and personally
delivered or mailed properly addressed in a sealed envelope, postage prepaid by
certified or registered mail.  Unless otherwise changed by notice, notice shall
be properly addressed to Executive if addressed to:

               John T. Grigsby, Jr.
               2255 Glades Road
               Suite 307E
               Boca Raton, FL 33431

and properly addressed to the Corporation if addressed to:

               Kaiser Group Holdings, Inc.
               9300 Lee Highway
               Fairfax, Virginia 22031-1207
               Attn:  Chairman of the Board

     11.  Miscellaneous.  This Agreement constitutes the entire agreement, and
          -------------
supersedes all prior agreements, of the parties hereto relating to the subject
matter hereof, and there are no written or oral terms or representations made by
either party other than those contained herein.  The validity, interpretation,
performance and enforcement of this Agreement shall be governed by the laws of
the Commonwealth of Virginia.  The headings contained herein are for reference
purposes only and shall not in any way affect the meaning or interpretation of
this Agreement.

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<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective as of the Effective Date.


                           /s/ John T. Grigsby, Jr.
                           ----------------------------
                           John T. Grigsby, Jr., Executive


                           KAISER GROUP HOLDINGS, INC.


                           By: /s/ James J. Maiwurm
                               -----------------------
                               James J. Maiwurm
                               Chairman of the Board



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                                  SCHEDULE 5
                                  ----------


                       Inventions Owned by the Executive


                                     NONE












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